Quantinno Capital Management LP Has $31.91 Million Holdings in Sumitomo Mitsui Financial Group Inc $SMFG

Key Points

• Quantinno Capital Management increased its SMFG stake by 17.9% in the first quarter, adding 245,231 shares to reach 1.62 million shares valued at approximately $31.91 million.
• SMFG reported quarterly earnings of $0.49 per share on $8.71 billion in revenue, with a 15.68% net margin and 10.19% return on equity.
• Analyst sentiment is strongly positive: Weiss Ratings upgraded the stock to “buy,” Zacks Research raised it to “strong buy,” and MarketBeat lists a consensus “Strong Buy” rating.

Quantinno Capital Management LP grew its position in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 17.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,615,819 shares of the bank's stock after buying an additional 245,231 shares during the quarter. Quantinno Capital Management LP's holdings in Sumitomo Mitsui Financial Group were worth $31,912,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Ascentis Independent Advisors acquired a new position in shares of Sumitomo Mitsui Financial Group in the 1st quarter worth approximately $27,000. Pin Oak Investment Advisors Inc. acquired a new stake in Sumitomo Mitsui Financial Group during the 3rd quarter valued at $29,000. Sound Income Strategies LLC raised its position in Sumitomo Mitsui Financial Group by 76.8% in the 4th quarter. Sound Income Strategies LLC now owns 1,404 shares of the bank's stock valued at $30,000 after purchasing an additional 610 shares during the last quarter. Bayban bought a new position in Sumitomo Mitsui Financial Group in the 4th quarter valued at $30,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Sumitomo Mitsui Financial Group by 163.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,979 shares of the bank's stock worth $30,000 after purchasing an additional 1,227 shares in the last quarter. Institutional investors and hedge funds own 3.85% of the company's stock.

Sumitomo Mitsui Financial Group Stock Performance

Shares of Sumitomo Mitsui Financial Group stock opened at $25.93 on Friday. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market cap of $165.41 billion, a P/E ratio of 19.35, a P/E/G ratio of 0.99 and a beta of 0.42. The firm has a 50 day simple moving average of $24.46 and a 200 day simple moving average of $22.36. Sumitomo Mitsui Financial Group Inc has a fifty-two week low of $14.92 and a fifty-two week high of $26.67.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last posted its quarterly earnings data on Tuesday, June 30th. The bank reported $0.49 earnings per share for the quarter. Sumitomo Mitsui Financial Group had a net margin of 15.68% and a return on equity of 10.19%. The firm had revenue of $8.71 billion during the quarter. Sell-side analysts predict that Sumitomo Mitsui Financial Group Inc will post 1.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Weiss Ratings upgraded Sumitomo Mitsui Financial Group from a "hold (c)" rating to a "buy (b-)" rating in a report on Wednesday, July 1st. Zacks Research raised Sumitomo Mitsui Financial Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. Based on data from MarketBeat.com, Sumitomo Mitsui Financial Group has a consensus rating of "Strong Buy".

Sumitomo Mitsui Financial Group Company Profile

Sumitomo Mitsui Financial Group, Inc (SMFG) is a Tokyo-based financial holding company that provides a broad range of banking and financial services through a network of domestic and international subsidiaries. Established in 2002 as a holding company for the Sumitomo Mitsui banking operations, SMFG's core banking business is conducted primarily through its main operating bank, Sumitomo Mitsui Banking Corporation (SMBC), alongside other affiliates covering trust banking, securities, leasing and consumer finance.

The group's product and service mix spans corporate and commercial banking, retail deposit and loan services, trade and project finance, cash management, syndicated lending, foreign exchange and treasury services, and capital markets and investment banking activities through its securities arm.

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